Macro-prudential policies that are adopted to strengthen the resilience of the financial sector to systemic risk impose additional restrictions on bank lending and other activities, altering the structure of the banking sector. In this article, we empirically investigate the extent to which macro-prudential instruments affect one of the bank characteristics, bank competition, for a sample of 58 countries. The robust finding is that macro-prudential policies are adversely affecting bank competition, in particular, this is driven by liquidity- and capital-related instruments. The negative effect can, however, be mitigated in countries with high institutional quality and high bank supervisory powers.

中文翻译：

---

宏观审慎政策是否会危及银行业竞争？

为加强金融部门对系统性风险的抵御能力而采取的宏观审慎政策对银行贷款和其他活动施加了额外的限制，从而改变了银行业的结构。在本文中，我们以 58 个国家为样本，实证研究了宏观审慎工具对银行特征之一——银行竞争的影响程度。强有力的发现是，宏观审慎政策正在对银行竞争产生不利影响，尤其是受到流动性和资本相关工具的驱动。然而，在制度质量高、银行监管能力强的国家，这种负面影响可以得到缓解。